UNTERSCHLEISSHEIM, Germany, Oct. 2 (UPI) —
Cassidian Optronics of Germany now operates as Airbus DS Optronics GmbH following a two-year integration process.
Airbus Defense and Space, which held 75.1 percent of the company since October 2012, said the name change is the result of its acquiring all remaining shares of the company.
"The alteration to the company’s name and the complete change of ownership will not entail any changes for the suppliers, customers and employees of the company," Airbus DS said.
The chief executive officer of Cassidian Optronics, Ralf Klaedtke, will remain at the helm of Airbus DS Optronics.
Airbus DS Optronics develops, designs and produces optronic, optical and precision-engineered products for military, civil and security applications. It has facilities in South Africa, South Korea, Brazil and Algeria as well as in Germany.
The financial details of the transaction were not disclosed.